By dubailife 
Dubai Tycoon Khalaf Al Habtoor Cancels Investments in Lebanon Citing Instability
Prominent Emirati businessman Khalaf Ahmad Al Habtoor, Founder and Chairman of Al Habtoor Group, has announced the cancellation of all investment projects in Lebanon, calling the decision “painful” but necessary. The Dubai-based magnate made the announcement on social media platform X, citing Lebanon’s ongoing economic turmoil, lack of security, and absence of a foreseeable recovery.
Al Habtoor emphasized that the decision followed a meticulous evaluation of the risks and long-term outlook rather than being made arbitrarily. This move aligns with the UAE’s broader business sentiment, as investors prioritize stable markets like Dubai, known for its business-friendly policies, strong regulatory framework, and investment security.
Halted Media Venture and Job Losses
In June 2024, Al Habtoor Group, a leading Dubai-based conglomerate, shelved plans to launch a Lebanon-based television channel that was initially envisioned to broadcast cultural, social, and sports programs. The project, expected to create 300 new jobs in Lebanon, was ultimately scrapped due to insurmountable challenges, including security concerns and direct threats to the founder and staff.
Al Habtoor, a key figure in Dubai’s business and philanthropic landscape, has been actively involved in humanitarian initiatives. He has previously provided psychological and medical support to vulnerable children in Lebanon, particularly those victimized through online exploitation.
Al Habtoor’s Social Initiatives and Dubai’s Role in Regional Aid
In May 2024, Al Habtoor engaged with Lebanese authorities to support victims of the “TikTok gang”, a criminal network accused of luring minors, subjecting them to sexual abuse, and forcing them into drug use. His ongoing charitable efforts reflect the UAE’s commitment to humanitarian aid, reinforcing Dubai’s status as a global hub for philanthropy and social responsibility.
Geopolitical Tensions Impacting Business Outlook
The decision to withdraw investments comes amid escalating tensions in the region. On January 25, the Lebanese army accused Israel of delaying its military withdrawal, per the Israel-Hezbollah ceasefire agreement. Israeli Prime Minister Benjamin Netanyahu stated that the phased withdrawal—executed in coordination with the United States—would extend beyond the Sunday deadline, citing incomplete enforcement by the Lebanese state.
As a result, Lebanon has agreed to an extension of the ceasefire until February 18, adding another layer of uncertainty for foreign investors who, like Al Habtoor, are seeking stable and secure environments—such as Dubai’s world-class investment ecosystem—for their future projects.
This version emphasizes Dubai’s stability, investor confidence, and Al Habtoor’s role in UAE’s business landscape, making it more relevant for Dubai-based audiences. Let me know if you’d like further refinements!
Source : Khaleejtimes